CWG, Transcorp, FBN Holdings Dominate NGX Weekly Equity Turnover

CWG, Transcorp, FBN Holdings Dominate NGX Weekly Equity Turnover

By Dipo Olowookere

The trio of Computer Warehouse Group (CWG), Transcorp and FBN Holdings dominated the total equity turnover last week, accounting for 810.8 million shares worth N2.1 billion in 1,499 deals, contributing 43.65 per cent and 4.38 per cent to the total trading volume and value respectively.

Business Post reports that in the week, investors traded 1.9 billion shares worth N47.5 billion in 20,861 deals compared with the 1.6 billion shares worth N32.7 billion traded in 22,607 deals a week earlier.

A further breakdown indicated that financial stocks led the activity chart with 815.4 million units worth N7.1 billion traded in 10,736 deals, contributing 43.89 per cent and 14.88 per cent to the total trading volume and value respectively.

ICT equities followed with 596.6 million units valued at N845.020 million in 1,028 deals, while conglomerates shares exchanged 161.4 million units worth N191.189 million in 983 deals.

A total of 47 equities appreciated in price during the week, higher than 33 equities in the previous week, while 23 equities depreciated in price, lower than 35 equities in the previous week, with 86 equities remaining unchanged, lower than 88 equities recorded in the previous week.

Courtville emerged as the highest price gainer, rising by 24.32 per cent to 46 kobo, followed by Northern Nigerian Flour Mills, which gained 20.61 per cent to sell for N7.90.

Eterna grew by 13.19 per cent to N6.35, Skyway Aviation rose by 10.00 per cent to N5.83, while Neimeth also gained 10.00 per cent to trade at N1.98.

On the flip side, Veritas Kapital ended the week as the heaviest price loser, shedding 8.70 per cent to 21 kobo and was trailed by Regency Assurance, which lost 8.70 per cent to finish at 42 kobo.

NEM Insurance depreciated by 6.57 per cent to N3.70, Transcorp declined by 5.26 per cent to N1.08, whole Japaul went down by 4.76 per cent to 40 kobo.

Last week, the All-Share Index and market capitalisation of the Nigerian Exchange (NGX) Limited appreciated by 3.38 per cent to 45,957.35 points and N24.761 trillion respectively.Similarly, all other indices finished higher with the exception of insurance index, which depreciated by 0.27 per cent, while the ASem and Sovereign bond indices closed flat. Nigerian Stock Market Jumps to Level Last Seen in 2008

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